Property reassessment in Ontario remains on hold, maintaining 2016 market values for the 2025 tax year. The fall economic statement reveals upcoming flexibility for municipalities regarding student housing tax subclasses....
Market Update
FSRA’s 2024-2025 plan focuses on protecting consumers in the expanding private mortgage market. Private mortgages hit 20.4% of market volume and 15.6% by value in 2023, increasing from 2022....
Since December 2023, Ontario sellers can opt for open bidding, disclosing bid details to all participants. Open bidding can reduce overbidding by giving buyers insight into competing offers, potentially stabilizing prices....
In October 2024, 70% of homes in the GTA sold for below their list price. Despite increased sales, overbidding activity remains low across the Greater Toronto Area....
Home sales in the Toronto area are gradually increasing after a prolonged slump, but buyers still hold significant negotiating power. As of October, 88% of the GTA is in "underbidding territory," with 70% of homes selling for less than the asking price. Despite a decline in bidding activity, there are signs of renewed buyer interest, particularly with lower interest rates. Some neighborhoods...
Ontario home prices remained stable in September compared to August, continuing a trend since February 2024. The average single-family home sold for $954,000 in September, a 4.5% decline from September 2023 prices....
Begin by saving for a down payment, using programs designed to ease first-time buyer costs. Access up to $60,000 from your RRSP through the Home Buyers' Plan, repayable over 15 years....
Investing in pre-construction condos in Ontario involves unique financial commitments, including occupancy and closing costs.The interim occupancy period occurs before property registration, where buyers pay “occupancy fees” without equity gain....
The Greater Toronto Area faces a condo supply glut, with nearly 40,000 units unsold or unoccupied. This includes 24,000 unsold new units, 9,000 resale listings, and 5,000 newly completed assignments....
In October, home sales in the Greater Toronto Area surged by 44.4% year-over-year, with 6,658 transactions. Toronto saw 2,509 home sales, a 37.6% increase, while other GTA areas rose by 48.9% to 4,149 sales....